| COMPANY |
Latch, Inc. f/k/a TS Innovation Acquisitions Corp. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
22-cv-07473 |
| JUDGE |
The Honorable John G. Koeltl |
| CLASS PERIOD |
May 13, 2021 and August 25, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
This class action lawsuit has been filed on behalf of those who purchased or acquired Latch, Inc. f/k/a TS Innovation Acquisition Corp. (“Latch”) (NASDAQ: LTCH) securities between May 13, 2021 and August 25, 2022, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) there were unreported sales arrangements related to hardware devices; (2) as a result, the company had improperly recognized revenue throughout fiscal 2021 and first quarter 2022; (3) there were material weaknesses in Latch’s internal control over financial reporting related to revenue recognition; (4) as a result of the foregoing, Latch would restate financial statements for fiscal 2021 and first quarter 2022; and (5) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On December 5, 2023, the Lead Plaintiff filed a second amended complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.